Y Intercept Hong Kong Ltd bought a new stake in NMI Holdings Inc (NASDAQ:NMIH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,063 shares of the financial services provider's stock, valued at approximately $651,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in NMI by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 7,158,877 shares of the financial services provider's stock valued at $263,160,000 after purchasing an additional 39,503 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of NMI by 70.9% in the first quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider's stock worth $73,341,000 after acquiring an additional 844,037 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in shares of NMI by 34.8% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,307,868 shares of the financial services provider's stock worth $48,077,000 after acquiring an additional 337,996 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of NMI by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 1,290,675 shares of the financial services provider's stock worth $47,445,000 after acquiring an additional 4,570 shares in the last quarter. Finally, Capital World Investors grew its stake in shares of NMI by 21.1% in the fourth quarter. Capital World Investors now owns 1,150,000 shares of the financial services provider's stock worth $42,274,000 after acquiring an additional 200,000 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company's stock.
Insider Buying and Selling
In other NMI news, Director Michael Curry Montgomery sold 1,875 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $38.05, for a total value of $71,343.75. Following the completion of the transaction, the director owned 66,068 shares in the company, valued at $2,513,887.40. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Bradley M. Shuster sold 21,545 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $39.56, for a total transaction of $852,320.20. Following the completion of the transaction, the chairman owned 409,792 shares of the company's stock, valued at $16,211,371.52. This represents a 4.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,697 shares of company stock valued at $4,210,337 over the last ninety days. Company insiders own 3.00% of the company's stock.
NMI Stock Performance
NASDAQ NMIH opened at $38.07 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.74 and a quick ratio of 0.74. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20. The company has a market capitalization of $2.97 billion, a PE ratio of 8.22, a P/E/G ratio of 1.16 and a beta of 0.55. The company has a fifty day moving average of $39.77 and a two-hundred day moving average of $37.29.
NMI (NASDAQ:NMIH - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.18. NMI had a net margin of 55.93% and a return on equity of 17.27%. The company had revenue of $173.25 million during the quarter, compared to the consensus estimate of $169.04 million. During the same quarter in the prior year, the firm posted $1.08 earnings per share. NMI's revenue for the quarter was up 10.8% on a year-over-year basis. As a group, analysts expect that NMI Holdings Inc will post 4.62 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Compass Point restated a "buy" rating and issued a $37.00 price target (up previously from $34.00) on shares of NMI in a research note on Friday, May 23rd. Barclays boosted their price target on shares of NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods downgraded shares of NMI from an "outperform" rating to a "market perform" rating and boosted their price target for the stock from $42.00 to $43.00 in a research note on Monday, July 7th. Finally, Wall Street Zen downgraded shares of NMI from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $43.00.
Check Out Our Latest Analysis on NMI
About NMI
(
Free Report)
NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders.
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